XML 16 R4.htm IDEA: XBRL DOCUMENT v3.7.0.1
Unaudited Condensed Consolidated Income Statements - USD ($)
shares in Millions, $ in Millions
 3 Months Ended 6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Jun. 30, 2017
Jun. 30, 2016
TOTAL REVENUE $ 5,279.3 $ 5,441.4 $ 10,418.7 $ 10,561.0
TOTAL COST OF SALES (excluding depreciation shown below) 4,453.2 4,599.6 8,772.8 8,893.3
TOTAL GROSS PROFIT 826.1 841.8 1,645.9 1,667.7
Selling, general, and administrative expenses 611.3 585.2 1,206.6 1,173.9
Depreciation and amortization 39.3 35.9 76.6 70.7
Other income, net (20.7) (5.8) (40.2) (10.8)
OPERATING INCOME 196.2 226.5 402.9 433.9
Non-operating income (expense) items:        
Floorplan interest expense (24.1) (19.3) (45.6) (38.2)
Other interest expense (29.2) (28.7) (58.0) (57.0)
Interest income 0.2 0.4 0.6 0.5
Other income, net 1.8 4.2 4.8 0.8
INCOME FROM CONTINUING OPERATIONS BEFORE INCOME TAXES 144.9 183.1 304.7 340.0
Income tax provision 57.2 71.0 118.8 131.7
NET INCOME FROM CONTINUING OPERATIONS 87.7 112.1 185.9 208.3
Loss from discontinued operations, net of income taxes 0.0 (0.1) (0.1) (0.4)
NET INCOME $ 87.7 $ 112.0 $ 185.8 $ 207.9
BASIC EARNINGS (LOSS) PER SHARE:        
Continuing operations (in dollars per share) [1] $ 0.87 $ 1.09 $ 1.84 $ 1.99
Discontinued operations (in dollars per share) [1] 0.00 0.00 0.00 0.00
Net income (in dollars per share) [1] $ 0.87 $ 1.09 $ 1.84 $ 1.98
Weighted average common shares outstanding (in shares) 101.2 102.9 101.1 104.8
DILUTED EARNINGS (LOSS) PER SHARE:        
Continuing operations (in dollars per share) [1] $ 0.86 $ 1.08 $ 1.83 $ 1.97
Discontinued operations (in dollars per share) [1] 0.00 0.00 0.00 0.00
Net income (in dollars per share) [1] $ 0.86 $ 1.08 $ 1.83 $ 1.97
Weighted average common shares outstanding (in shares) 101.5 103.6 101.6 105.5
COMMON SHARES OUTSTANDING, net of treasury stock, at period end (in shares) 100.4 102.2 100.4 102.2
New Vehicle [Member]        
TOTAL REVENUE $ 2,930.9 $ 3,071.9 $ 5,727.1 $ 5,872.1
TOTAL COST OF SALES (excluding depreciation shown below) 2,792.7 2,909.1 5,444.6 5,560.1
TOTAL GROSS PROFIT 138.2 162.8 282.5 312.0
Used Vehicle [Member]        
TOTAL REVENUE 1,201.1 1,259.4 2,442.0 2,501.0
TOTAL COST OF SALES (excluding depreciation shown below) 1,126.6 1,175.4 2,290.5 2,326.0
TOTAL GROSS PROFIT 74.5 84.0 151.5 175.0
Parts and Service [Member]        
TOTAL REVENUE 857.5 834.7 1,702.6 1,655.1
TOTAL COST OF SALES (excluding depreciation shown below) 479.9 473.1 954.0 938.8
TOTAL GROSS PROFIT 377.6 361.6 748.6 716.3
Finance and Insurance, Net [Member]        
TOTAL REVENUE 228.8 225.4 450.4 448.5
TOTAL GROSS PROFIT 228.8 225.4 450.4 448.5
Other Goods and Services [Member]        
TOTAL REVENUE 61.0 50.0 96.6 84.3
TOTAL COST OF SALES (excluding depreciation shown below) 54.0 42.0 83.7 68.4
TOTAL GROSS PROFIT $ 7.0 $ 8.0 $ 12.9 $ 15.9
[1] Earnings per share amounts are calculated discretely and therefore may not add up to the total due to rounding.